Change font size: Switch to default font size Switch to medium font size Switch to large font size

This Conference's DC Connections: 566
Total DC Connections since inception: 94728


I felt it was particularly helpful that regulators were in...

Jeffrey A. Petro,Vice President, Head of Money Market Trading,Federated Investors

Read more testimonials

Main Website >> Investment Management / Alternative Investment >> Conference Home >> Agenda
 Share:   Join Us On:
20th Annual Beneficial Owners' International Securities Lending - January 27-29, 2014 - Austin, TX
Sign In | Create New Account


"This conference levels the playing field for beneficial owners. Its big enough to attract the
industry leaders and regulators, and small enough to allow time for personalized connections."


Jeffrey A. Petro, Vice-President, Head of Money Market Trading, Federated Investors
(Attendee at IMNs 19th Annual International Beneficial Owners Securities Lending Conference, January 2013, USA.)

"The IMN conference is extremely well run year after year; it is informative and continues to provide panels with great depths of expertise."

Robert Keane, Stock Lending Oversight, F&C Asset Management Limited
(Attendee at IMN's 18th Annual European Beneficial Owners Securities Lending Conference, September 2013, UK.)

Agenda Last Updated On: Wednesday, March 12, 2014
Day One: Monday, January 27, 2014

1:45-5:00 Pre-Registration for All Attendees

2:30 Securities Lending Revisited: A Retrospective Look at a Dynamic Industry With a View to Determining its Future
LOADING AUDIO...

As part of our twentieth anniversary celebrations for this event, we are taking a look at the past two decades of the securities lending industry. In discussing notable junctures in the industrys history, and how securities lending as a practice has evolved through various economic, market and regulatory cycles, we will address what lessons todays industry practitioners can learn and what the next few years will likely have in store.

Moderator:
John W. Arnesen, Global Head of Agency Securities Lending, BNP PARIBAS SECURITIES SERVICES [ BIO ] [ PRESENTATION ]

Panelists:
James Templeman, Managing Director, BLACKROCK [ BIO ]
Mark Payson, Global Head of Business Development, BROWN BROTHERS HARRIMAN [ BIO ]
Susan Peters, Global Head Sales and Marketing, SCORPEO ASSET MANAGEMENT LTD. [ BIO ]
Craig Starble, Chief Executive Officer, ESECLENDING [ BIO ]

John Arnesen
Global Head of Agency Securities Lending
BNP PARIBAS SECURITIES SERVICES
Arnesen
James Templeman
Managing Director
BLACKROCK
Templeman
Mark Payson
Global Head of Business Development
BROWN BROTHERS HARRIMAN
Payson
Susan Peters
Global Head Sales and Marketing
SCORPEO ASSET MANAGEMENT LTD.
Peters
Craig Starble
Chief Executive Officer
ESECLENDING
Starble

3:20 Change is Coming: An Introduction to Tri-Party Repo Post Reforms
LOADING AUDIO...

In this session we offer an introduction to tri-party repo, its correlation to securities lending, its pros and cons including its risks as a cash collateral investment and, ultimately, how the current practice will change with reforms. We will also take a look at risk mitigation measures for pre-default and post-default fire sales. The overall objective of this session is to provide industry stakeholders with an understanding of what change is coming, timelines, what it means for their business and what they need to be doing now to prepare.

Moderator:
Ed Blount, Executive Director, CENTER FOR THE STUDY OF FINANCIAL MARKET EVOLUTION [ BIO ] [ PRESENTATION ]

Panelists:
Vic Chakrian, Vice President, THE FEDERAL RESERVE BANK OF NEW YORK [ BIO ] [ PRESENTATION ]
Antoine Martin, Vice President and Function Head, THE FEDERAL RESERVE BANK OF NEW YORK [ BIO ] [ PRESENTATION ]
Jeffrey A. Petro, Vice-President Head of Money Market Trading, FEDERATED INVESTORS [ BIO ]
Edward Corral, Executive Director, MORGAN STANLEY [ BIO ] [ PRESENTATION ]

Ed Blount
Executive Director
CENTER FOR THE STUDY OF FINANCIAL MARKET EVOLUTION
Blount
Vic Chakrian
Vice President
THE FEDERAL RESERVE BANK OF NEW YORK
Chakrian
Antoine Martin
Vice President and Function Head
THE FEDERAL RESERVE BANK OF NEW YORK
Martin
Edward Corral
Executive Director
MORGAN STANLEY
Corral

4:10 An Update on Key Regulation Impacting Securities Lending in 2014 presented by:
LOADING AUDIO...

Following on from the success of this introductory level panel last year we are pleased to once again discuss the industry issues that regulators will be prioritizing in 2014. The panelists welcome questions from the floor and participation from attendees is highly encouraged. We will also address key regulation that is impacting securities lending globally including timelines and the likelihood of the regulation being enacted. The overall purpose of this session is to provide attendees with a basic understanding of what is on the domestic and global regulatory agenda with the intent to examine the direct implications for securities lending in subsequent panels. Among the points to be addressed are:

  • Dodd-Frank/Volcker Rule interpretations
  • Basel III
  • Financial Stability Board/Shadow Banking
  • ESMA
  • Financial Transaction Tax (FTT)

To submit questions in advance anonymously, please email  cmiller@imn.org.



Moderator:
Michael McAuley, Managing Director, Global Head of Product Strategy, BNY MELLON [ BIO ]

Panelists:
Bruce McDougal, Director, BLACKROCK [ BIO ] [ PRESENTATION ]
Bill Kelly, Head of Global Client Relationship Management & Business Development, BNY MELLON [ BIO ]
Michael Landolfi, Derivatives Product Manager, Global Collateral Services, BNY MELLON
Robert Wittie, Partner, K&L GATES LLP [ BIO ]
Theresa Hajost, Special Counsel, Office of Trading Practices, U.S. SECURITIES AND EXCHANGE COMMISSION

Michael McAuley
Managing Director, Global Head of Product Strategy
BNY MELLON
McAuley
Bruce McDougal
Director
BLACKROCK
McDougal
Bill Kelly
Head of Global Client Relationship Management & Business Development
BNY MELLON
Kelly
Robert Wittie
Partner
K&L GATES LLP
Wittie

5:10-6:10 Welcoming Evening Gala for All, Courtesy of:

6:10 End of Day One

Day Two: Tuesday, January 28, 2014

8:25 Registration and Breakfast for Workshop Attendees

8:55-9:55 Practical Beneficial Owner Workshops (Beneficial Owners only) Presented by:

These two practical-based roundtable workshops facilitated by industry experts will offer Beneficial Owners the benefit of engaging in a dialogue and hence get a deeper understanding of the respective topics and how they specifically relate to their needs. Beneficial Owners will have the opportunity to attend two rotations of the 30 minute workshops. Summary documentation covering the main themes of each workshop will be provided to attendees.

A: eSecLending - Regulatory Realities Set In – Are Interests Aligned Going forward?

B: Citi - Opportunities in the Emerging Markets: What you Need to Know Regarding Nuances and Different Structures in Some of the Emerging Markets

9:25 Registration and Breakfast for Those Who Did Not Attend the Workshops, Courtesy of:

9:55 IMN & Chair’s Welcome & 13th Annual Steve Dimino and Ian Schneider Award Ceremony
LOADING AUDIO...

Opening Welcome By:
Catherine Miller, Event Producer, INFORMATION MANAGEMENT NETWORK
Josh Galper, Managing Principal, FINADIUM LLC [ BIO ]

Josh Galper
Managing Principal
FINADIUM LLC
Galper

10:10 Economist Perspective: What to Expect from the US & Global Economies in 2014
LOADING AUDIO...

Our panelists will debate their views (the good, the bad and the in-between) on where the domestic and global economies/markets are headed in the next 12-18 months based on current trends/events/policy and what this means for securities lending.

* How stable is the recovery mode and what is driving it? Is the US out of danger? How will the end of Quantitative Easing impact the economy and market confidence? What else can we expect from the Treasury through the rest of the Obama Administration? How will subsequent monetary policy further impact securities lending practices and investment strategy? * How have fundamentals moved over the past year? Where did issuances/spreads end up in the fixed income market? What is the outlook for short term interest rates? * What global economic/political forces will likely have a significant impact on the US economy in the near-medium term? What is projected for Europe this year? Asia? How will this likely impact the US markets? Risk aversion? *

Moderator:
Andrew Hollenhorst, Fixed-Income Strategist, CITIGROUP [ BIO ]

Panelists:
G. Scott Clemons, Chief Investment Strategist, BROWN BROTHERS HARRIMAN [ BIO ]
Steven R. Meier CFA, FRM, Executive Vice President and Chief Investment Officer, Global Fixed Income, Currency & Cash, STATE STREET GLOBAL ADVISORS [ BIO ]

Andrew Hollenhorst
Fixed-Income Strategist
CITIGROUP
Hollenhorst
G. Scott Clemons
Chief Investment Strategist
BROWN BROTHERS HARRIMAN
Clemons
Steven Meier
Executive Vice President and Chief Investment Officer, Global Fixed Income, Currency & Cash
STATE STREET GLOBAL ADVISORS
Meier

11:00-11:30 Networking Break Courtesy of

11:30 A Practical & In-Depth Look: The Business Implications of Global Regulation for Securities Lending Stakeholders

We are in an era of significant regulatory change or proposed change which could have considerable impact on the securities lending industry. Following on from the earlier introductory session on regulation, the following panel tackles the content in greater depth with a specific focus on addressing the business implications for lenders and borrowers of various key regulations/proposed legislation. The content is delivered in a practical manner so that attendees will come away with a direct understanding of how Beneficial Owners, Agent Lenders, Hedge Funds/Prime Brokers and other industry stakeholders will all be impacted. Crucially, take-home actionable points will be generated in this discussion, giving attendees a check-list of items to go over upon their return to the office.

PART ONE - Money Market Reform
PART TWO - Dodd Frank/Basel III/Shadow Banking

Moderator:
Erin Perales, General Counsel, HOUSTON MUNICIPAL EMPLOYEES PENSION SYSTEM [ BIO ]

Panelists:
Kevin Bannerton, Managing Director, Head of Americas Liquidity Management, DEUTSCHE BANK [ BIO ] [ PRESENTATION ]
Judith Polzer, Head of Securities Lending Product, J.P. MORGAN [ BIO ]
Kristin Missil, Senior Vice President and Head of Securities Lending Risk Management, NORTHERN TRUST [ BIO ]
Scott W. Olson, Senior Managing Director, Head of Global Product Development, Regulatory Affairs & Product Tax, STATE STREET GLOBAL MARKETS [ BIO ]

Kevin Bannerton
Managing Director, Head of Americas Liquidity Management
DEUTSCHE BANK
Bannerton
Judith Polzer
Head of Securities Lending Product
J.P. MORGAN
Polzer
Kristin Missil
Senior Vice President and Head of Securities Lending Risk Management
NORTHERN TRUST
Missil
Scott Olson
Senior Managing Director, Head of Global Product Development, Regulatory Affairs & Product Tax
STATE STREET GLOBAL MARKETS
Olson

12:30 International Securities Lending Market Update 2014: An Industry in Flux
LOADING AUDIO...

In this presentation we highlight how major events over the past year have impacted the securities lending industry, including the value chain between beneficial owners/agent lenders/primer brokers/hedge funds, and events impacting revenue-generating opportunities. Among the points to be addressed are:
* Demand vs. supply: 2013 trends and outlook for 2014 * How many new lending programs were launched and expanded last year? How does this compare to the lending programs that were cut back or closed? * Where are yield levels? * What transaction volumes can be expected in 2014? *

Presenter:
Tim D'Arcy, Senior Vice President - ASTEC, SUNGARD [ BIO ] [ PRESENTATION ]

Tim D'Arcy
Senior Vice President - ASTEC
SUNGARD
D'Arcy

12:55 Lunch

Concurrent Sessions: Choose A or B

1:55 A A Practical Application – Securities Lending Strategies to Weather the Different Regulatory & Economic Scenarios & to Meet the Need for Alpha
LOADING AUDIO...

Following on from the regulatory and macro-economic sessions earlier in the program, we will now take a practical approach to the content delivered and invite our panelists to debate how securities lending strategies would need to adapt to weather the different regulatory/economic scenarios and to meet the need for alpha. In particular we will discuss what types of investment should be considered to pick up yield and what beneficial owners should be doing now to prepare for the evolving market environment

Moderator:
William Smith, Managing Director, Western Hemisphere Sales Executive, Securities Lending, Worldwide Securities Services, J.P. MORGAN [ BIO ]

Panelists:
Jeffrey Kidwell, Director of AVM Solutions, AVM, LP AND III ASSOCIATES [ BIO ]
Jason Peter Strofs, Managing Director, BLACKROCK [ BIO ]
Larry Mannix, Managing Director, Cash Collateral Reinvestment, BNY MELLON [ BIO ]
Paul Lynch, Chief Operating Officer, ESECLENDING [ BIO ]

William Smith
Managing Director, Western Hemisphere Sales Executive, Securities Lending, Worldwide Securities Services
J.P. MORGAN
Smith
Jeffrey Kidwell
Director of AVM Solutions
AVM, LP AND III ASSOCIATES
Kidwell
Jason Strofs
Managing Director
BLACKROCK
Strofs
Larry Mannix
Managing Director, Cash Collateral Reinvestment
BNY MELLON
Mannix
Paul Lynch
Chief Operating Officer
ESECLENDING
Lynch

1:55 B Intrinsic Value-Based Programs Vs. General Collateral-Based Programs Revisited
LOADING AUDIO...

* What is an intrinsic value-based program? Should you always have one? * How viable are value-only programs in the current low rate climate? Are general collateral tracks still a necessity? * Value-based programs vs. general collateral-based programs: Comparing the business cases * Are value-based lending programs appropriate for all Beneficial Owners? * Implementing intrinsic value-based securities lending programs: Key steps and considerations * Strategies for extracting the maximum potential intrinsic value from securities * Measuring the intrinsic value of securities * How to gate your lending in an intrinsic program? * Metrics: What to look at? *

Moderator:
Barry Winter, Managing Director, CITI [ BIO ]

Panelists:
Lance Wargo, Head of Securities Lending, North America, BNP PARIBAS SECURITIES SERVICES
Mark Payson, Global Head of Business Development, BROWN BROTHERS HARRIMAN [ BIO ]
W. Tredick McIntire, Managing Director, GOLDMAN SACHS [ BIO ]
Patrick Morrissey, Head Security Lending Trader, THE VANGUARD GROUP [ BIO ]
Owen Nichols, Managing Director, STATE STREET GLOBAL MARKETS [ BIO ]

Barry Winter
Managing Director
CITI
Winter
Lance Wargo
Head of Securities Lending, North America
BNP PARIBAS SECURITIES SERVICES
Wargo
Mark Payson
Global Head of Business Development
BROWN BROTHERS HARRIMAN
Payson
W. Tredick McIntire
Managing Director
GOLDMAN SACHS
McIntire
Patrick Morrissey
Head Security Lending Trader
THE VANGUARD GROUP
Morrissey
Owen Nichols
Managing Director
STATE STREET GLOBAL MARKETS
Nichols

2:45 A Cash Collateral: Securities Lending As a Cash Management or Treasury Management Function?
LOADING AUDIO...

Moderator:
Peter Bassler, Head of Business Development, ESECLENDING [ BIO ]

Panelists:
Mike Saunders, Head of Trading & Investments, Securities Lending, BNP PARIBAS SECURITIES SERVICES [ BIO ]
Dan Kiefer, Portfolio Manager, CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM [ BIO ]
Josh Galper, Managing Principal, FINADIUM LLC [ BIO ]
Matthew Steinaway CFA, Senior Managing Director., STATE STREET GLOBAL ADVISORS [ BIO ]

Peter Bassler
Head of Business Development
ESECLENDING
Bassler
Mike Saunders
Head of Trading & Investments, Securities Lending
BNP PARIBAS SECURITIES SERVICES
Saunders
Josh Galper
Managing Principal
FINADIUM LLC
Galper
Matthew Steinaway
Senior Managing Director.
STATE STREET GLOBAL ADVISORS
Steinaway

2:45 B A Guide to Optimizing Lending Programs for Resource & Budget Constrained Small-Mid Sized Funds

Is it possible to have a compliant and successful securities lending program and not spend more than an hour a day in oversight? What are reasonable best practices based on composition of assets? In this panel we welcome beneficial owners from small-mid sized funds who do not have the internal resources or budget for a 24/7 dedicated effort for their securities lending practices. We examine how they have optimized their lending practices internally and through external resources to enable them to minimize the amount of oversight needed while remaining fully compliant and generating satisfactory revenue.
  • Key steps to simplifying the process
  • What to do in-house vs. outsource
  • Internal vs. external resources the must-haves vs. nice to haves
  • How best to utilize consultants: What are the right questions to ask?
  • Staying on top of regulation
  • Critical risk measures and monitoring procedures
  • Internal reporting


Moderator:
Erin Perales, General Counsel, HOUSTON MUNICIPAL EMPLOYEES PENSION SYSTEM [ BIO ]

Panelists:
Robert Meyers, Analyst, Fixed Income, ERS OF TEXAS [ BIO ]
Brian K. Yeazel, Managing Director - Fixed Income, MASON STREET ADVISORS [ BIO ]

Robert Meyers
Analyst, Fixed Income
ERS OF TEXAS
Meyers
Brian Yeazel
Managing Director - Fixed Income
MASON STREET ADVISORS
Yeazel

3:30-4:00 Networking Break Courtesy of

Attendees Reconvene for Closing General Sessions

4:00 The Beneficial Owner Viewpoint on Preparing for a Future Not Yet Defined: Rising Interest Rates; An Evolving Regulatory Environment; & Continuing the Chase for Alpha
LOADING AUDIO...

* How was 2013 for your lending program? Were transaction volumes/returns/overall performance up or down on 2012? What are you foreseeing for 2014? Are you considering any new strategies in the search for Alpha? * What is at the top of your agenda for 2014? * How are you addressing the current regulatory and economic environment in your securities lending strategy? Are you anticipating making any significant program changes in 2014? How are preparing for rising interest rates? Will increases in cost of capital alter the fee/split? How will the market further evolve in 2014 is regulation the catalyst for you to look at other products? * What is your perspective on risk today? Is it time to take on more risk? * Indemnification: What is your perspective? Do investors need it? Are beneficial owners held back by indemnification of other products? * Are you active in any new/high risk markets? Financial transaction tax is this impacting your lending in Europe? * Aside from regulation, what will be the key themes of 2014 for the securities lending industry? *

Moderator:
Tim Smollen, Global Head of Agency Securities Lending, DEUTSCHE BANK [ BIO ] [ PRESENTATION ]

Panelists:
Mike Johnson, Investment Officer II, CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Christine Bosco CFA, Trader, FRANKLIN TEMPLETON
Charles Rizzo, CFO, JOHN HANCOCK INVESTMENTS [ BIO ]
Brian K. Yeazel, Managing Director - Fixed Income, MASON STREET ADVISORS [ BIO ]
James J. Vance, Vice President and Treasurer, WESTERN & SOUTHERN FINANCIAL GROUP

Tim Smollen
Global Head of Agency Securities Lending
DEUTSCHE BANK
Smollen
Brian Yeazel
Managing Director - Fixed Income
MASON STREET ADVISORS
Yeazel

4:45 Is Securities Lending Still Economically Viable? Understanding and Calculating the Costs of Business & Debunking Common Industry Misconceptions
LOADING AUDIO...

In this panel discussion we examine the costs involved in securities lending, the factors impacting costs currently and what might alter these going forward. This discussion is set in the framework of current revenue-generating opportunities that will be explored further in subsequent panels. We also explore some commonly held misconceptions about the practice and address the who/what/why of when securities lending is right or not for any given beneficial owner.

Moderator:
Bill Pridmore, President, WILLIAM F. PRIDMORE, LTD. [ BIO ] [ PRESENTATION ]

Panelists:
Bill Kelly, Head of Global Client Relationship Management & Business Development, BNY MELLON [ BIO ]
Chris Benedict, Vice President, DATALEND [ BIO ]
Anthony T. Toscano, Managing Director Head of US Trading, DEUTSCHE BANK [ BIO ]
George Trapp, Senior Vice President, Head of North American Securities Lending Client Service, NORTHERN TRUST [ BIO ]

Bill Pridmore
President
WILLIAM F. PRIDMORE, LTD.
Pridmore
Bill Kelly
Head of Global Client Relationship Management & Business Development
BNY MELLON
Kelly
Anthony Toscano
Managing Director Head of US Trading
DEUTSCHE BANK
Toscano
George Trapp
Senior Vice President, Head of North American Securities Lending Client Service
NORTHERN TRUST
Trapp

5:30-6:30 Networking Reception Courtesy of

6:30 End of Day Two

Day Three: Wednesday, January 29, 2014

8:00-9:00 Closed-Door Beneficial Owners' Breakfast Roundtable Discussion Courtesy of

Continuing the valued tradition of offering Beneficial Owners a confidential peer-to-peer open discussion forum, the following roundtable will enable participants to freely discuss issues at the top of their agenda. Participation is strictly limited to qualified Beneficial Owners. To register or to submit discussion points, please email dettinger@imn.org. Submitted questions will remain anonymous.

Workshop Leaders:
Dan Kiefer, Portfolio Manager, CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM [ BIO ]
Steven Kuettel, Fixed Income Manager, MINNESOTA STATE BOARD OF INVESTMENT

9:00-10:00 Practical Beneficial Owner Workshops (Beneficial Owners only) Presented by:

These two practical-based roundtable workshops facilitated by industry experts will offer Beneficial Owners the benefit of engaging in a dialogue and hence get a deeper understanding of the respective topics and how they specifically relate to their needs. Beneficial Owners will have the opportunity to attend two rotations of the 30 minute workshops. Summary documentation covering the main themes of each workshop will be provided to attendees.

A: Deutsche Bank - The Future of Securities Lending from All Viewpoints: Lending, Borrowing, & Asset Management

Discuss the changes to securities lending as seen through the eyes of 3 practitioners: Banking, Asset Management, and Prime Brokerage.
  • Banking: changes to cost structures - what opportunities exist and how will they effect returns
  • Asset Management - what is the condition of short-term markets, what new strategies can be explored
  • Prime Brokerage - how has the supply/demand equation changed views on general collateral borrowing and exclusives


B: Brown Brothers Harriman - 3 Steps to “Future-Proof” Your Securities Lending Program

Securities lending experts are predicting an increase in revenue opportunities for 2014, but regulatory and tax changes along with a gradual normalization of monetary policy continue to create some uncertainty for beneficial owners.

Join Senior Vice Presidents John Hartnett and Julie Hubbard for a session that will address the three key steps beneficial owners can follow now to ensure their programs are well-positioned to navigate the changing industry landscape and take advantage of the earliest stages of the rebound.



9:30 Breakfast for Those Who Did Not Attend Earlier Sessions, Courtesy of:

10:05 Chairman's Recap
LOADING AUDIO...

Presenter:
Josh Galper, Managing Principal, FINADIUM LLC [ BIO ]

Josh Galper
Managing Principal
FINADIUM LLC
Galper

10:15 Critical Issues Heading Beneficial Owners’ Agendas: The Agent Lender/Borrower Response

We are pleased to introduce this new panel discussion. With Beneficial Owner participant approval, key themes from the closed roundtable session from earlier in the program will be put to Agent Lender/Borrower panelists for their perspective. (Sources behind the issues to be discussed will remain anonymous.)

Moderator:
Rory Zirpolo, Managing Director, COWEN EQUITY FINANCE GROUP

Panelists:
Keith Haberlin, Global Securities Lending Co-Product Head, BROWN BROTHERS HARRIMAN [ BIO ]
Jeff Bonaldi, Head of North America Sales, CITI [ BIO ]
Frederick Nadd-Aubert, Managing Director, Prime Services, CREDIT SUISSE [ BIO ]
Paul Grimm, SVP, Mgr Securities Lending, FROST NATIONAL BANK [ BIO ]
Paul Wilson, Managing Director, Global Head of Agent Lending Product and Portfolio Advisory, Investor Services, J.P. MORGAN [ BIO ]

Rory Zirpolo
Managing Director
COWEN EQUITY FINANCE GROUP
Zirpolo
Keith Haberlin
Global Securities Lending Co-Product Head
BROWN BROTHERS HARRIMAN
Haberlin
Jeff Bonaldi
Head of North America Sales
CITI
Bonaldi
Frederick Nadd-Aubert
Managing Director, Prime Services
CREDIT SUISSE
Nadd-Aubert
Paul Grimm
SVP, Mgr Securities Lending
FROST NATIONAL BANK
Grimm
Paul Wilson
Managing Director, Global Head of Agent Lending Product and Portfolio Advisory, Investor Services
J.P. MORGAN
Wilson

11:00-11:15 Networking Break Courtesy of:

11:15 A Practical Approach to Collateral: Its Use, its Optimization & Preparing for a Shortfall – is Transformation the Solution?
LOADING AUDIO...

In this session we take a practical approach to collateral optimization and management in the context of the changing needs of securities lending. In discussing these changing requirements, we look at how Beneficial Owners can prepare for collateral shortfall by obtaining and using collateral in a different way. We examine whether collateral transformation is a source of opportunity for the securities lending industry and how Beneficial Owners can do this to benefit from it. In doing so we also discuss how big the market will be, its main players, costs involved along with the overall implications for the industry landscape.

Moderator:
Ed Marhefka, Managing Director, MARKIT NORTH AMERICA INC.

Panelists:
Sam Sparhawk, Managing Director, BNY MELLON [ BIO ]
Patrick M. Avitabile, Global Head of Product Strategy & Development, CITI [ BIO ]
Robert A. Crossen, Cash Management Officer, ILLINOIS STATE TREASURERS' OFFICE [ BIO ]

Sam Sparhawk
Managing Director
BNY MELLON
Sparhawk
Patrick Avitabile
Global Head of Product Strategy & Development
CITI
Avitabile
Robert Crossen
Cash Management Officer
ILLINOIS STATE TREASURERS' OFFICE
Crossen

12:00 The Utilization & Performance of Different Assets in the Current Climate: Maximizing the Bang for Your Buck in the Lending of Your Fixed Income and Equity Securities
LOADING AUDIO...

In this panel we discuss the ins and outs of the lending of US fixed income and equity securities in todays market and how beneficial owners can best utilize and maximize the performance of these assets. Among the discussion points are: Levels and drivers of demand; what is impacting performance and returns; risk factors; the balance sheet impact from a capital perspective; how to determine if the practice is still viable/right for you as a beneficial owner; strategies that beneficial owners are successfully utilizing in the current climate; and the overall outlook for these types of trade and what this will ultimately mean for the nature and extent of lending programs.

Moderator:
Gene Picone, Director, SCOTIA CAPITAL [ BIO ]

Panelists:
Richard Marquis, Regional Head of Equity Finance, The Americas, BNY MELLON
James F. McDonald, Senior Managing Director, Global Head of Trading, STATE STREET SECURITIES FINANCE [ BIO ]

Gene Picone
Director
SCOTIA CAPITAL
Picone
Richard Marquis
Regional Head of Equity Finance, The Americas
BNY MELLON
Marquis
James McDonald
Senior Managing Director, Global Head of Trading
STATE STREET SECURITIES FINANCE
McDonald

12:45 Close of IMN’s 20th Annual Beneficial Owners' International Securities Lending Conference


Conference Home | Conference Agenda | Sponsors & Exhibitors | Hotel/Venue| Registration/CPE Info.| Register

Copyright © 2014 IMN All rights reserved - Terms & Conditions, Privacy Policy, Cookies